ICICI Bank has acquired 2,25,74,134 shares of IVRCL amounting to 5.03 per cent of the latter company’s equity by interest loan conversion. This acquisition of shares in the Hyderabad-based infrastructure company is on cumulative basis and in accordance with the terms and conditions laid down in the Corporate Debt Restructure process of the company.
IVRCL is engaged into engineering procurement and construction (EPC) activities in India. It conducts operations in 5 sectors namely Water and Environment, Transportation, Buildings, Power and Industrial Structures.
